DKNG + March Madness + Stimulus$DKNG + March Madness + Stimulus #tradeidea
We are knocking on the resistance. Once $74 breaks with volume, look for confirmation to go long
DKNG trade ideas
Draftking Ascending TriangleMarch madness + New price upgrades has pushed this stock over 20% this month so far
Resistance is around the 72-74$ area.
I'd consider a pattern breakout and entry over 74$.
White lines are overall range it's been trading in.
Yellow line is recent support area trendline that compliments the Ascending pattern but even that trendline doesn't hold and it falls back to the mid 60$ range you can still see the pattern with the white lines.
Greenlines are targets fibonacci
$DKNG Wave Theory Projection Update - Onto Wave 3 (Target: $87)$DKNG Wave Theory. Wave 2 hit as projected, other indicators are looking good
Potential Push for Wave 3 soon.Looking to push out above the daily descending channel before challenging the monthly. Wave 3 projection near $88.50.
DKNG at top of channelLooks like buyers are losing steam. It's at the top of the channel and having some trouble. I'd expect a retrace to around 65.
$dkngEither back test on resistance, or we test .382 to support than move off 60 into highs again, per usual
DKNG Cup & Handle - Short term PT of $65 before heading higher$DKNG looks to be forming a Cup & Handle pattern. This may be the start of the handle formation.
Appears to be topped out at this $72. Looks like it will move to a short term downside to $65 before heading higher to new highs.
Short Term Target: Pullback to $66-65 based on 61.80% fib level
Price: $71.75
Support: $65, $70
Resistance: $72.60
Cup and HandleI am gonna hang with the pattern for now. Call me crazy (o:
Testing support for sure.
The market mood seems off kilter for stocks such as this one. A throwback occurred last time it broke long entry level.
This one does not seem to swing too low. I feel it will make it's mark, just a matter of when (O: Patience and trade management can save us (o"
No recommendation
Smart money bought this at 17 to 38. They will most likely let it ride unless their position is threatened. I can tell where they bought by looking at negative volume. We are positive volume. Negative volume is volume on down days. Positive volume is virtually volume of up days.
No recommendation
Throwbacks can hurt performance,
Try hard to look at a chart objectively. Hear what the candles are telling you..see what the support and resistance are doing.
Sometimes we see what we want to see and not what is actually there (o:
A chart is a mere xray of supply and demand
No rising wedges in the yearly chart. Keep an eye of RSI and the candles.
Important to know your candles, like hammer, shooting star, dojis, engulfing.
Long Legged dogi with a long wick pointiong down can show important support levels. That tall tail reached down and stops abruptly. "OUCH BABE" and she holds (o:
betting on herd-bettingThe name is catchy, the model is highly addictive, activity is becoming more widespread legal, odds are hella better than lotto, the social aspects of getting friends together on the same platform, so customer/money retention will remain high once they got you onboard. A lot of money will get torched here in the coming years including $1400 stimulus handouts as early as next week.
buying stock on dips, long dated calls BULLISH $DKNG
DKNG Stock 12/03/21 Analysis 4H Chart(DRAFTKINGS: DKNG )
- Trend Analysis -
📑Value: 0/20
📈Growth: 14/20
💰Profitability: 14/20
🚀Momentum: 20/20
💸Earnings: 14/20
🖇️Total Score: 62/100
Analysis:
Low: $41
Average: $72.83
High: $105
Current: $72.96
Income Statement:
Revenue: $614.53M
Gross Profit: $267.94M
EBITDA: -----
Net Income: -----
EPS Diluted: -$2.76
Cash Flow Statement:
Cash from Operations: -$337.88M
Cash from Investing: -$227.34M
Levered Free Cash Flow: -$49.38M
Unlevered Free Cash Flow: -$48.72M
Free Cash Flow: -$1.26
Balance Sheet:
Total Cash: $1.82B
Total Debt: $81.61M
Total Debt to Equity: 3.03%
Current Ratio: 3.96
Quick Ratio: 3.96
Cup and Handle Pattern on DKNG 4HCup and Handle Pattern suggests continuation of bull pattern and possible break out above the channel or to top trend line resistance.
DKNG BounceDKNG has had a great runup over the last 2 days, but it has now ran into resistance at 72, this is where extra supply will be from the last selloff at this level. I believe this will pullback toward moving averages. If not this trade is low risk and can be exited at any break above 73
DKNG > Buy DKNG > Buy
> Follow Buy a trend on this price.
> Causing the price to open the VA break to stand at 64.79 $
> It is a very important signal
> Risk/Reward Ratio: 2.48
More Room to Run for Draftkings?DKNG is trading in an upside channel after a pullback from its all-time high of $64.20 set in October 2020.
It saw a few upgrades this morning and is now set to open the session above that $64.20 level. If I see it hold that mark (and hopefully retest it), I’ll consider the R2 Fibonacci pivot level ($67.14; RM2 on the chart) as a potential intraday price target. The next near-term target, if the upside momentum persists, would be the all-time high of $72.
On the downside, the 20-day EMA would be a possible support. Further down, I'll keep a close eye on the $ 60 zone, which was in play multiple times in the past.
A Proven Growth Winner I think DonkeyKong DKNG is a proven winner and can run much higher much quicker then other growth stocks .. in all seriousness draftkings chart is about to go if it can get above the POC there’s no stopping it into $70s that sell off would’ve been a better time to add but now that the dust has settled a bit we see a more clear picture that DKNG and it should be proof this stock will be seeing higher highs soon.
